Glucose Biosensor Systems (Greater China) Holdings, which is developing a saliva-based glucose monitoring system for diabetes in China, filed on Friday with the SEC to raise up to $23 million in an initial public offering.
Glucose Biosensor Systems originally filed to list on the Nasdaq in October 2018 under Regulation A+ in a $9 million to $25 million best-efforts offering with Cuttone & Co serving as placement agent; it withdrew its Reg A+ filing in March 2019.
The New York, NY-based company was founded in 2016 and booked $0.7 million in revenue for the 12 months ended March 31, 2019. It plans to list on the NYSE American under the symbol GBSG. Glucose Biosensor Systems filed confidentially on May 13, 2019. Aegis Capital Corp. is the sole bookrunner on the deal. No pricing terms were disclosed.
